State of Alaska Archives: on Budget & Economy

Five years ago today, Pres. Obama signed the $800 billion stimulus package with Mark Begich's support. "I want to wish Mark Begich a happy anniversary on the passing of the $800 billion stimulus. With one of the earliest votes of his time in the Senate,
Begich started his pattern of being a rubber stamp for President Obama. We were told this package would help our economy and jump start businesses. Now we know it's just another case of government spending too much and placing the price tag on the backs
of future generations. The federal government is like a river that has overrun its banks. As a country we have to stop borrowing from the Chinese to pay for today's lunch. The best way to stimulate the economy is to get the federal government out of the
way. As the only businessman in the race, I know what it takes to get our economy moving again. In Alaska that means access to the Tongess, ANWR and the NPR-A for starters. I am running to bring decision-making back home where it belongs."

Mead Treadwell has listed only five positions on his site, with common right-wing planks like being pro-life, pro-guns and for traditional marriage topping the list.

The Alaska Democratic Party has blasted the aloofness, issuing press releases laying
out a laundry list of federal issues it says the candidates haven't addressed. The "Treadwell/Sullivan issue tracker" wonders where the hopefuls stand on nearly 20 issues, everything from privatizing Social Security to permanent reauthorization of the
Indian Health Service.

But there's still seven months until the Aug. 19 primary vote, plenty of time to explore issues. In the forum, both Republican candidates said they're pro-life, and both attacked ObamaCare and federal overreach,
saying they'd fight for less regulation and more economic freedom in hopes of promoting more business and development opportunities in Alaska without forsaking the environment.

Miller singled out Murkowski for "substantial and troubling conflicts of interest" in Murkowski's 2008 vote for the bank bailout known as TARP. The bill passed in Oct. 2008 on a 74 to 25 vote with bipartisan support.

Murkowski shouldn't have
voted for the bill, said a Miller campaign spokesman, since she and her family had investments in several of the more than 800 financial institutions that accepted bailout money. The Miller campaign drew attention to the family's holdings at the time in
Morgan Stanley and Wells Fargo [totaling under $100,000]. Both companies took bailout money; both paid the government back in 2009, plus returned $3.3 billion in profit.

A Miller campaign spokesman said, "There was a conflict of interest there." So
I asked: "Does that apply to any senator who happened to own stock in any of 800 banks?" The Miller spokesman wouldn't address other senators, but said Murkowski should have recused herself.

Lisa Murkowski:
Regrets voting for TARP; would vote against it now

Miller singled out Murkowski for "substantial and troubling conflicts of interest" in Murkowski's 2008 vote for the bank bailout known as TARP. The bill passed in Oct. 2008 on a 74 to 25 vote with bipartisan support.

Murkowski shouldn't have voted for
the bill, said a Miller campaign spokesman, since she and her family had investments in several of the more than 800 financial institutions that accepted bailout money. The Miller campaign drew attention to the family's holdings at the time in Morgan
Stanley and Wells Fargo [totaling under $100,000]. Both companies took bailout money.

A Miller campaign spokesman said, "There was a conflict of interest there," and that Murkowski should have recused herself.

Murkowski's spokesman said that like man
Alaskans, Murkowski's family "invested money in mutual funds for both retirement and her kids' college education." Murkowski said during a debate before the primary that if she could do it over, she would not vote for the bank bailout.

Sean Parnell:
Enforce budget discipline and invest for our future

Our budget focuses on priorities mandated by Alaska's Constitution. On education, public safety, transportation and resource development. And, I established some guiding principles for this budget:

First, budget discipline;

Second, results for
Alaskans; and

Third, save and invest Alaska's dollars for our future.

I held the line on state agency growth. I held it to just over two percent, when they asked for a ten percent increase.

Source: Alaska 2010 State of the State Address
Jan 20, 2010

Sarah Palin:
Restraint of last two years should continue in tough times

Two years ago at this podium, I urged spending restraint. I asked that billions of surplus funds be deposited in state savings. This struck me as a simple precaution against, as I described it, massive single-year cuts down the road, if and when we faced
tougher times. You legislators agreed, so we can now meet our challenge in a stronger position.

And you understood the challenge is not just to think fast and change plans when the price of oil suddenly falls, affecting revenue by billions of dollars.
The challenge is to follow a consistent plan despite inconsistent prices. With prudence, you built our reserves--that was good planning. This national economic downturn that's spread to the energy market--it found us prepared.
And that's more than many states can say about their financial situation.

With the budget, the aim is to keep our economy on a steady, confident course. The aim is--with discipline--we protect our reserves and promote economic growth.

Source: Alaska 2009 State of the State Address
Jan 22, 2009

Sarah Palin:
$7 billion savings plan for education & transportation

Keeping her commitment to save for the future, Governor Sarah Palin today announced details of a two-year $7.1 billion savings plan. “We are celebrating a milestone in Alaska’s history--an opportunity to save for the future and work toward a more
predictable budget,” said Governor Palin. The two-year savings plan calls for:

Investing $2.6 billion in the Education Fund to help fund public education in the future.

Creating a $1 billion fund whose earnings would be used for future
transportation infrastructure.

Replenishing the Constitutional Budget Reserve with $379 million.

Investing $250 million in an alternative energy fund. This fund would be used for energy projects recommended by a strategic energy plan,
which could include hydroelectric, wind, geothermal, biomass and tidal power.

Governor Palin also proposes to deposit $2.4 billion from the Permanent Fund earnings reserve to the Permanent Fund principal.

Sarah Palin:
Reduced general fund spending by $124 million

Governor Palin is committed to a budget that controls the growth of government, forces the state to live within its means, and encourages a healthy savings for the state’s future. The Governor’s budget includes funding to restore the longevity bonus
program, a community revenue sharing program and fully funds the education foundation formula. From the moment Governor Palin took office, she directed all state agencies to look for efficiencies and savings.
Through a collective effort, the Governor was able to reduce general fund spending in the operating budget alone by over $124 million. The capital budget maximizes federal funding and focuses on the
Administration’s priorities. The Governor will continue to work with the Legislature to craft a final budget that meets the needs of Alaskans.

Sarah Palin:
Aim to reduce general fund spending by $150 million

I have established an aggressive goal of reducing general fund spending by $150 million dollars. This takes tremendous effort by staff as well as the cooperation of the Legislature. On the savings side, by depositing our one-time surplus of $1.8
billion dollars, we’ll build our savings account to nearly $4.3 billion dollars. It’s a necessary step to ensure that we can fund essential services tomorrow; and avoid massive “single year” cuts down the road, if and when, faced with tougher times.

Source: 2007 State of the State Address to 24th Alaska Legislature
Jan 17, 2007

Sarah Palin:
Firm believer in free market capitalism

I am a conservative Republican, a firm believer in free market capitalism. A free market system allows all parties to compete, which ensures the best and most competitive project emerges, and ensures a fair, democratic process.

I will communicate progress on gasline negotiations to the public. My Administration will pursue the plan that is best for ALL Alaskans. All qualified and viable proposals and applicants will be considered.